Kenyan shilling steady, to remain level this week, traders say – Markets

NAIROBI: Kenya’s shilling was steady against the dollar on Monday, and is expected to remain level in the coming week, traders said.

The East African currency traded at 128.50/129.50 per dollar as of 0639 GMT, the same as Friday’s closing rate, per LSEG data.

Kenyan shilling firms to new 1-year high

“We did see a bit of offshore buying on Friday, and the central bank has been buying for the past month, but there’s enough supply, so the currency remains stable,” one commercial bank trader said.

NAIROBI: Kenya’s shilling was steady against the dollar on Monday, and is expected to remain level in the coming week, traders said.

The East African currency traded at 128.50/129.50 per dollar as of 0639 GMT, the same as Friday’s closing rate, per LSEG data.

Kenyan shilling firms to new 1-year high

“We did see a bit of offshore buying on Friday, and the central bank has been buying for the past month, but there’s enough supply, so the currency remains stable,” one commercial bank trader said.